Durrat, Jawad sign convenience stores deal

Manama, July 30, 2008

Durrat Al Bahrain, the Kingdom’s largest planned luxury mixed-use residential, commercial and resort development, has signed an agreement with Jawad Group, Bahrain’s leading supermarket and convenience store operator, to supply convenience stores across the island city resort.

The contract will be managed by Durrat Resort Management, Durrat Al Bahrain’s newly formed subsidiary created to deliver a global standard in community development and management.

Jawad Group will initially supply two mid-sized, 24-hour convenience stores on two of Durrat Al Bahrain’s residential islands, which will be open and ready for business when the first phase of villas are delivered to homeowners in November.

In addition to the convenience stores, Jawad will also supply a Costa Coffee on one of the islands.

Jassim Al Jowder, CEO of Durrat Al Bahrain, said: ’We have always been very clear that we are creating more than a development. Durrat Al Bahrain is a city of the future and a city needs to have the right facilities to create an environment where communities will freely develop.

’Our agreement with Jawad Group illustrates the level of quality and the kind of day to day amenities we are seeking to bring to Durrat Al Bahrain for our residents to enjoy.’

Julian Butson, resort city manager – Durrat Al Bahrain for Olive-vfm, said: ’Today’s announcement is a first step in delivering Durrat Resort Management’s mandate, which is to create sustainable community facilities that will support the development of informal and formal groups across the Durrat Al Bahrain community.

’By having Jawad Group supply our convenience stores for the first phase of homeowners, we are not only ensuring that residents will have easy access to their every day needs, but, we are also creating community focal points in their own right.

’The addition of a Costa Coffee outlet from Jawad will also be important in offering a range of community facilities for residents.’

Faisal Jawad, chairman and CEO, Jawad Business Group, said: ’We’re very excited to be working with Durrat Resort Management. We have been impressed with the ambition of the team – it’s very clear to us that we are responsible for delivering more than market leading convenience stores.

’Durrat Resort Management wants us to play our part in helping to develop what will become the Durrat Al Bahrain community and we are delighted to be involved in this process.’

Durrat Al Bahrain is owned by the Durrat Khaleej Al Bahrain Company, in which the Government of the Kingdom of Bahrain and Kuwait Finance House – Bahrain each hold a 50 percent stake. - TradeArabia News Service